NEW YORK, Dec. 5 (UPI) -- Crude oil prices dipped under $88 a barrel on the New York Mercantile Exchange Wednesday despite a larger-than-expected drawdown in U.S. crude oil inventories.
Traders expected a draw of less than 1 million barrels, but the Energy Information Administration reported a stockpile decline of 2.4 million barrels to 371.8 million barrels in the week.